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Remittances and vulnerability in developing countries
 
Author:Bettin, Giulia; Presbitero, Andrea F.; Spatafora, Nikola; Collection Title:Policy Research working paper ; no. WPS 6812
Country:World; Date Stored:2014/03/20
Document Date:2014/03/01Document Type:Policy Research Working Paper
SubTopics:Remittances; Access to Finance; Debt Markets; Economic Conditions and Volatility; Population PoliciesLanguage:English
Region:The World RegionReport Number:WPS6812
Volume No:1 of 1  

Summary: This paper examines how international remittances are affected by structural characteristics, macroeconomic conditions, and adverse shocks in both source and recipient economies. The paper exploits a novel, rich panel data set, covering bilateral remittances from 103 Italian provinces to 87 developing countries over the period 2005-2011. Remittances are negatively correlated with the business cycle in recipient countries and increase especially strongly in response to adverse exogenous shocks, such as natural disasters or large terms-of-trade declines. Financial development in the source economy, which eases access to financial services for migrants and reduces transaction costs, is positively associated with remittances. Conversely, recipient-country financial development is negatively associated with remittances, suggesting that remittances help alleviate credit constraints.

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